Crypto expert with 400,000 followers predicts XRP price will surprise traders in June as Ripple lawsuit verdict approaches
The XRP price has increased by 1% today, which is a deviation from the general market trend, reaching $0.505788 in the last 24 hours.
Over the past week, the price has increased by 11%, with traders and analysts anticipating a positive outcome in Ripple’s ongoing SEC case.
In fact, XRP has risen impressively by 48% since January 1, with the expectation of a positive outcome for Ripple, which has seen a number of positive developments in its case in recent weeks.
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One analyst predicts a breakout for XRP in June, which may lead to the end of the case and a massive rally for the altcoin that holders have been anticipating since December 2020.
XRP Price Prediction to Surprise Traders in June Says Crypto Expert With 400,000 Followers as Ripple Lawsuit Verdict Looms
XRP reached as high as $0.527786 overnight, marking a 10% increase from its level on Monday.
However, it has since stabilized, with mixed signals from its technical indicators.
XRP’s relative strength index (purple) has dropped below 50, indicating a loss of momentum, but it has since started to rise again. The coin’s 30-day moving average (yellow) continues to rise higher than its 200-day average (blue), pointing towards possible incoming gains.
Meanwhile, XRP’s support level (green) continues to rise as the altcoin consolidates around increasingly high prices, providing it with a stronger base for further rises.
Overall, XRP is in a good position for some big rallies in the coming weeks, as predicted by a growing number of analysts and commentators.
One expert, known as @CryptoGodJohn on Twitter, suggests that the coin could see a breakout next month, with the analyst forecasting a breakout of 12% or more.
Positive noises surrounding the Ripple-SEC case could make this prediction credible. Recently, SEC emails revealed that the regulator had received advice (prior to suing Ripple) that XRP was not a security, undermining the regulator’s case.
Combined with other positive rulings in Ripple’s favor in recent months, this suggests that the cryptocurrency company has a good chance of reaching a summary judgment or settlement that favors them, enabling it to continue operating as before and allowing the trading of XRP.
Ripple’s recent acquisition of Metaco, a provider of digital asset custody services, is also a sign of their confidence in a positive outcome in their SEC case.
Such developments have fueled increasing market confidence in XRP, which explains its recent gains.
If and when a positive judgment arrives, XRP is likely to see a huge rally, potentially rising to $1 in a matter of weeks. From there, an increasingly bullish cryptocurrency market could see it return to $2 or even $3 around early 2024.
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Despite the increasing positivity surrounding Ripple, we may not see a decision in its case for several months, meaning that XRP may not have its hoped-for big rally for a while yet.
For this reason, traders could be advised to spread into other altcoins, with presale tokens, in particular, offering the potential for big, market-beating gains when they list on exchanges.
This includes Wall Street Memes (WSM), a new cryptocurrency emerging from the meme stocks movement that began with the 2021 GameStop and AMC rallies.
Wall Street Memes has recently launched the WSM token presale, which has already raised over $1.2 million. Despite being in its early stages, this number is impressive and demonstrates how quickly it is attracting investor interest, especially considering that the Wall Street Memes Twitter account has over 200,000 followers.
The WSM presale will be divided into 30 stages, with the current fourth stage offering WSM at a price of $0.0259. However, by the end of the sale, the price will increase to $0.03370000. This means that WSM’s price will go up by 30% before it even lists, and it could potentially experience significant growth after it is added to exchanges.
Investors have a limited amount of time to purchase WSM before it potentially becomes much more expensive. Interested parties can join the presale by visiting the official Wall Street Memes website and connecting their crypto wallets.
The majority of the 2 billion total supply of WSM will be distributed to its community, with 50% allocated to the presale and 30% going towards community rewards. This distribution is one of the reasons why its presale has already been successful, and with the sale still in its early stages, it could easily become one of the most successful token offerings of the year.
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